Marketing Times - March/April 2008 - (Page 11) brandingtips tereSa a. rivera “tHe naMe gaMe” (FIRST IN A SERIES OF ARTICLES ON BRANDING) What’s in a name? The name of your business is a very large part of your brand. It is a critical part of the overall brand identity for any business. Your brand is your mojo – it’s your promise to customers. Does the name of your business convey the image of how you’d like it to be perceived? People form emotional connections to brands and develop brand loyalty which influences their buying decisions. The names of businesses that have developed strong brand equity have become a part of everyday vocabulary. Think Xerox, Google, TiVo, Starbucks. A small company named “Blue Ribbon Sports” was struggling several years ago until their first employee, Jeff Johnson, had a dream. He dreamt of the Greek goddess of victory, whose name was Nike, and a new company name was born. Nike paid a graphic design student at Portland State University $35 in 1971 to design the now familiar swoosh logo. It was designed to be used on the sides of their athletic shoes and was a graphic representation of the wings of the goddess of victory. Could a company named “Blue Ribbon Sports” have come so far? Your company’s name should mean something; it should be original and memorable. It may be the name of the person that founded the business, a family member, or even the location. Think Hilton, Mercedes, Ikea, McDonald’s, Wendy’s. The name of a business can generate “top-of-mind” awareness with consumers. “Coca-Cola”, which has a brand name worth an estimated $70B, is said to be the world’s most recognized term after “OK”. What do people think of when they hear the name of your company? The name of your business is the cornerstone of your brand. Make it representative of your company’s mission, values, and culture. And make it unique – who knows, you could be the next big name. ABOUT THE AUTHOR: Teresa is an award-winning, nationally-known speaker on marketing, branding and communication, having worked for major corporations and government entities, such as the US Postal Service and Procter & Gamble. She currently works with the US Department of the Interior, is the owner of an event planning company, and is working on her upcoming book, “The Business of Branding”. She can be reached at teresa.a.rivera@ gmail.com marketingtimes http://www.smei.org http://www.smei.org
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